F & I Manager

VANGUARD TRUCK CENTERS LLC•La Vergne, TN

27d•Onsite

About The Position

The F&I Manager's job is to secure each sale and ensure that every vehicle sold is delivered. This role controls the sale by arranging financing so outside sources do not have an impact on selling margins, establishes lender relations that tie the customer closer to the dealership, and generates additional income through the sales of credit insurance, vehicle service contracts, GAP coverage, and maintenance plans. The F&I Manager maintains control of all paperwork until it is ready to be turned into the general office and is responsible for all paperwork involved with the sale of the vehicle, including obtaining customer signatures and securing payoff and insurance information. This role also converts cash deals to finance, establishes and maintains good working relationships with several finance sources, including the manufacturer, and processes finance and lease deals accurately and fairly through financial sources to secure approval. The F&I Manager conducts business in an ethical and professional manner, processes all federal, state, and dealer paperwork related to vehicle transactions, and understands and complies with federal, state, and local regulations that affect the new- and used-vehicle and finance departments. They complete paperwork necessary for vehicle sales and leases in a timely and efficient manner, check all paperwork for correct title, lien information, taxes, etc., before forwarding to accounting, and acquire and maintain current state insurance license, completing continuing credit insurance education as needed. Additionally, the F&I Manager provides customers with a complete explanation of manufacturer and dealership service procedures and policies, manages the alternative finance source program to ensure that several sources are available, seeks insurance companies for insurance paper, and maintains insurance files. They set up and maintain a program that will ensure 100 percent turnover to the F&I department, provide the sales force and sales managers with current information about finance and lease programs continually, and train the sales staff regarding the benefits of financing, insurance, and extended service programs. This role works with sales managers to secure a reasonable profit from every sale, coordinates finance forecasting with sales department forecasting to achieve desired levels of penetration and income, ensures collection of all finance and insurance fees, takes all credit applications, and prepares reports on finance penetration. The F&I Manager attends managers meetings, handles all rate quotations, develops and monitors guidelines for working with customers to ensure maximum customer satisfaction, and supervises and trains designated backup to ensure continued efficiency and profitability in the F&I manager's absence. Finally, they maintain an adequate and current supply of all required contracts and paperwork needed for completion and finalization of car deals and maintains a professional appearance.

Requirements

3-5 years F&I experience required
Product knowledge, professionalism, and empathy
Strong communication skills
Ability to build team relationships with sales and the General Office

Nice To Haves

College degree preferred
AFIP certification a plus

Responsibilities

Protects gross profit by arranging financing so outside sources do not have an impact on selling margins.
Establishes lender relations that tie the customer closer to the dealership.
Generates additional income through the sales of credit insurance, vehicle service contracts, GAP coverage, and maintenance plans.
Maintains control of all paperwork until it is ready to be turned into the general office.
Responsible for all paperwork involved with the sale of the vehicle, including obtaining customer signatures and securing payoff and insurance information.
Converts cash deals to finance.
Establishes and maintains good working relationships with several finance sources, including the manufacturer.
Processes finance and lease deals accurately and fairly through financial sources to secure approval.
Conducts business in an ethical and professional manner.
Processes all federal, state, and dealer paperwork related to vehicle transaction.
Understands and complies with federal, state, and local regulations that affect the new- and used-vehicle and finance departments.
Completes paperwork necessary for vehicle sales and leases in a timely and efficient manner.
Checks all paperwork for correct title, lien information, taxes, etc., before forwarding to accounting.
Acquires and maintains current state insurance license, completing continuing credit insurance education as needed.
Provides customers with complete explanation of manufacturer and dealership service procedures and policies.
Manages the alternative finance source program to ensure that several sources are available.
Seeks insurance companies for insurance paper.
Maintains insurance files.
Sets up and maintains a program that will ensure 100 percent turnover to the F&I department.
Provides sales force and sales managers with current information about finance and lease programs continually.
Trains the sales staff regarding the benefits of financing, insurance and extended service programs.
Works with sales managers to secure a reasonable profit from every sale.
Coordinates finance forecasting with sales department forecasting to achieve desired levels of penetration and income.
Ensures collection of all finance and insurance fees.
Takes all credit applications.
Prepares reports on finance penetration.
Attends managers meetings.
Handles all rate quotations.
Develops and monitors guidelines for working with customers to ensure maximum customer satisfaction.
Supervises and trains designated backup to ensure continued efficiency and profitability in the F&I manager's absence.
Maintains an adequate and current supply of all required contracts and paperwork needed for completion and finalization of car deals.
Maintains a professional appearance.